84-86r Cross St Malden, MA 02148
- Apartment buildings
- 4,660 SF
Current Use by Public Records
- Apartment buildings
Property Details for 84-86r Cross St
- Property size
- 4,660 SF
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a meticulously renovated six-unit multifamily property in Somerville, MA. Located at 84-86r Cross St, this property boasts 4,660 square feet and comprises a four-family and a two-family building on a single lot. Four of the six units have undergone complete gut renovations, featuring granite countertops, new appliances, and updated kitchens. The property also benefits from a recently updated roof, electrical system, and hot water tanks. Currently generating a gross annual income of $159,600 (excluding income from four coin-operated washer/dryers), the property offers significant upside potential due to rents substantially below market value. The property includes three off-street parking spaces accessed via two driveways. Its prime location offers convenient access to public transportation, with proximity to both the Green and Orange lines. The walk score is 90, the transit score is 90, and the bike score is 85, reflecting its highly desirable location. This property presents a compelling investment opportunity, suitable for a 1031 exchange or potential future condo conversion given the extensive recent renovations. The property features 18 total rooms, 8 bedrooms, and 6 bathrooms. All unit utilities are separately metered.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Malden
- County
- Middlesex
- State
- Massachusetts
- Longitude
- -71.0557
- Latitude
- 42.4326
